Though all the directors in the Foreign Branch may be foreigners, all Foreign Branches in Singapore require the appointment of 2 local agents. Following are the requirements for an individual to act as an agent for a Foreign Branch:
- A local resident (Singapore Citizen, Singapore Permanent Resident, Employment Pass Holder of the Foreign Branch)
- The local agent must be at least 18 years of age, and must not be bankrupt or convicted for any criminal malpractice in the past. Information of the directors will appear on public records.
If you do not have a local Singapore resident agent to meet the requirement of the Companies Act, you have the following options:
Apply for Employment Pass (EP) or Personalised Employment Pass (PEP): Foreign Corporation that plans to relocate its management staff to Singapore to run their new Foreign Branch must apply for an Employment Pass. For more details, please refer to Singapore Employment Pass.
Foreign Individuals/Corporation Not Relocating to Singapore:
You can appoint a trusted contact who is a Singapore resident or use our nominee local agent service. For more details, please refer to Singapore Nominee Agent.